Airtel opens first ever Airtel Money Branch

Airtel Networks Zambia Plc has opened its first ever Airtel Money Branch in Matero Township.

Opening the branch with scores of Matero residents in attendance, Matero Member of Parliament, Honourable Lloyd Kaziya said it was an honour and privilege to be part of the very first ever Airtel Money Branch in the entire country.

Honourable Kaziya said inspite recent progress on financial inclusion highlighted in the vision 2030, the Country still had a long way to go as statistics showed that over 40% of the adult population was still excluded in the financial sector.

“We all must admit that as technology continues to evolve with time, there is need to leverage on these digital technologies to reduce costs and expand the reach of the formal financial sector as is stated in the 2017 – 2022 National Financial Inclusion Strategy,” Honourable Kaziya said.

“As a Government we would like to recognise the efforts being made by mobile operators and in this case Airtel Zambia for joining in this plan to improve access to high quality financial delivery channels which will include mobile phones as the percentage adults using electronic payment instruments is estimated to grow from 37% to 55% by 2022 as projected by the national financial inclusion strategy.”

And speaking on behalf of Airtel, Airtel Money Director Mr James Chona said the opening of the branch meant more availability of float, enhanced security, superior customer service experience as well as servicing of surrounding agents.

“From the time we launched Airtel Money we are proud to say we have continued evolving and evolving for the better as we strive to bring you excellent, high quality products and services with just a touch of a button on your mobile phone,” Mr Chona said.

“We understand that we continue to play a key role in the financial inclusion agenda with the National Financial Inclusion Strategy stating that Mobile Money providers only reach 14.8 % of the population. This is the reason why we are here today, to open an Airtel Money Branch in one of Zambia’s most populous areas.”

I am not sure how to feel about this. Mobile money platforms have been taking business away from traditional brick and mortar banks, and bringing convenience to the consumer. What benefit does opening a brick and mortar branch of a mobile money operation bring to the average user ?